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Parallax Volatility Advisers

Parallax Volatility Advisers Portfolio holdings

AUM $58.9B
1-Year Est. Return 51.73%
This Fund
S&P 500
This Quarter Est. Return
+3.14%
1 Year Est. Return
+51.73%
3 Year Est. Return
+168.58%
5 Year Est. Return
+213.54%
10 Year Est. Return
+865.31%
AUM
$50.7B
AUM Growth
-$15.2B
Cap. Flow
-$465M
Cap. Flow %
-0.92%
Top 10 Hldgs %
39.98%
Holding
1,934
New
364
Increased
545
Reduced
471
Closed
329

Top Buys

Rank Stock Value
1
AXP icon
American Express
AXP
+$263M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$154M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$90.9M
4
BABA icon
Alibaba
BABA
+$47.6M
5
AVGO icon
Broadcom
AVGO
+$36.4M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$191M
2
NVDA icon
NVIDIA
NVDA
+$134M
3
GLD icon
SPDR Gold Trust
GLD
+$80.5M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$65.2M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$49.8M

Sector Composition

Rank Sector Weight
1 Miscellaneous 95.43%
2 Technology 1.29%
3 Financials 1.28%
4 Consumer Discretionary 0.7%
5 Industrials 0.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARCC icon
201
PUT
Ares Capital
ARCC
$14.1B
$34.4M 0.07%
1,700,100
+10,000
+0.6% +$202K
W icon
202
CALL
Wayfair
W
$13.7B
$34.4M 0.07%
342,100
-44,100
-11% -$4.24M
LMT icon
203
CALL
Lockheed Martin
LMT
$124B
$34.2M 0.07%
70,800
+51,800
+273% +$24.8M
NBIS
204
PUT
Nebius Group N.V.
NBIS
$66.3B
$34M 0.07%
405,600
+104,000
+34% +$10.8M
COST icon
205
PUT
Costco
COST
$404B
$33.9M 0.07%
39,300
+2,000
+5% +$1.81M
TFC icon
206
PUT
Truist Financial
TFC
$61.8B
$33.8M 0.07%
686,800
+686,300
+137,260% +$31.6M
QBTS icon
207
PUT
D-Wave Quantum Inc
QBTS
$6.58B
$33.7M 0.07%
1,290,000
+659,900
+105% +$19.2M
ARES icon
208
PUT
Ares Management
ARES
$31.3B
$33.6M 0.07%
+208,000
New +$32.4M
NBIS
209
CALL
Nebius Group N.V.
NBIS
$66.3B
$33.5M 0.07%
400,700
+106,000
+36% +$11M
LRCX icon
210
PUT
Lam Research
LRCX
$401B
$33.4M 0.07%
195,300
+62,700
+47% +$9.75M
CCJ icon
211
CALL
Cameco
CCJ
$44.4B
$33.2M 0.07%
362,500
-56,100
-13% -$5.05M
TSM icon
212
CALL
TSMC
TSM
$2.28T
$32.7M 0.06%
107,500
+100
+0.1% +$29.3K
SE icon
213
PUT
Sea Limited
SE
$69.4B
$32.2M 0.06%
252,500
-17,500
-6% -$2.59M
GM icon
214
CALL
General Motors
GM
$75.3B
$31.6M 0.06%
389,200
+209,200
+116% +$14.7M
NEE icon
215
PUT
NextEra Energy
NEE
$175B
$31.3M 0.06%
390,400
+271,300
+228% +$22.5M
DVN icon
216
CALL
Devon Energy
DVN
$53.2B
$31.2M 0.06%
850,600
+611,900
+256% +$21.4M
SOXX icon
217
PUT
iShares Semiconductor ETF
SOXX
$43.5B
$31M 0.06%
103,100
-21,200
-17% -$6.25M
KO icon
218
PUT
Coca-Cola
KO
$380B
$30.8M 0.06%
441,100
-230,400
-34% -$16.1M
GE icon
219
CALL
GE Aerospace
GE
$347B
$30.8M 0.06%
100,000
-225,000
-69% -$67.8M
DIA icon
220
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.4B
$30.7M 0.06%
63,800
+49,900
+359% +$23.6M
DIA icon
221
CALL
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.4B
$30.6M 0.06%
63,600
+37,700
+146% +$17.8M
KWEB icon
222
PUT
KraneShares CSI China Internet ETF
KWEB
$4.89B
$30.5M 0.06%
896,400
-747,500
-45% -$28.7M
NEM icon
223
CALL
Newmont
NEM
$134B
$30.5M 0.06%
305,000
-77,500
-20% -$7M
ABR icon
224
PUT
Arbor Realty Trust
ABR
$935M
$30.2M 0.06%
3,890,600
+1,730,000
+80% +$17M
CCJ icon
225
PUT
Cameco
CCJ
$44.4B
$29.8M 0.06%
325,900
-419,700
-56% -$37.8M
7 8
9
10 11

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Parallax Volatility Advisers's Q4 2025 Portfolio in Review

As of Q4 2025, Parallax Volatility Advisers held 1,934 positions worth $50.7B, down 23% from $65.9B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Parallax Volatility Advisers's Q4 2025 filing shows 364 new, 545 increased, 471 reduced and 329 closed positions. Its largest new stake was American Express: 733,883 shares worth $272M. The largest sale was Meta Platforms (Facebook), an estimated $191M.

By sector, the portfolio is most concentrated in Miscellaneous at 95% of assets, down from 96% a quarter earlier, followed by Technology and Financials.

  • Parallax Volatility Advisers's largest Q4 2025 buy was American Express: 733,883 shares worth $272M.
  • Parallax Volatility Advisers added most to Alibaba in Q4 2025, an estimated $47.6M increase.
  • Parallax Volatility Advisers's biggest Q4 2025 reduction was SPDR Gold Trust, cutting an estimated $80.5M.
  • Parallax Volatility Advisers fully exited Meta Platforms (Facebook) in Q4 2025, selling an estimated $191M.
  • Parallax Volatility Advisers's ten largest holdings make up 40% of its $50.7B portfolio in Q4 2025.
  • Parallax Volatility Advisers opened 364 new positions and closed 329 in Q4 2025.
  • Parallax Volatility Advisers's portfolio value fell 23% quarter-over-quarter to $50.7B.

Based on Parallax Volatility Advisers's 13F filing for Q4 2025, filed 17 Feb 2026.